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Crypto Corner Podcast 626: Stocks discussed: (NYSE: EDR) (NYSE: GS) (TSXV: NDA)

UFC Announces Fight Kit Deal with, Goldman Sachs Says ETH Could Overtake BTC, and Neptune Digital Assets Secures Next Gen Miner Purchase


Point Roberts, WA and Delta, BC - July 7, 2021 ( Newswire), a leader in crypto and blockchain investing news brings you today's edition of the Crypto Corner podcast and commentary on what's driving cryptocurrency stocks and the crypto market.

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Crypto Corner Podcast 626: Stocks discussed: (NYSE: EDR) (NYSE: GS) (TSXV: NDA)


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Stocks discussed: (NYSE:EDR) (NYSE:GS) (TSXV:NDA)

CNBC reports that the Ultimate Fighting Championship (UFC), which is owned by Endeavor Group Holdings (NYSE:EDR) has announced a fight kit deal with cryptocurrency trading platform today. This agreement, worth $175 million over 10 years according to the report, gives "a brand presence on fight kit items used throughout UFC including apparel (shorts, top bras, walk-out hoodies) worn by athletes during competition, and clothing worn by the training staff," as well as "the rights to UFC's newly created "Cryptocurrency Platform Partner" sponsorship category."

Multinational investment banking giant Goldman Sachs (NYSE:GS) believes that Ether (ETH) could surpass Bitcoin (BTC) as the most popular cryptocurrency, according to Business Insider. A recent note from Goldman observes that Ether "currently looks like the cryptocurrency with the highest real use potential as Ethereum, the platform on which it is the native digital currency, is the most popular development platform for smart contract applications." However, regardless of whether Bitcoin or Ether is number one, the note from Goldman Sachs privileges gold above cryptocurrency:

"Gold is competing with crypto to the same extent it is competing with other risky assets such as equities and cyclical commodities. We view gold as a defensive inflation hedge and crypto as a risk-on inflation hedge."

"This competition among cryptocurrencies is another risk factor that prevents them from becoming safe haven assets at this stage."

Neptune Digital Assets Corp. (TSXV:NDA) has secured the purchase of new next-generation mining machines for its continued strategy to scale its Bitcoin mining operations. The order consists of 200 S19 Pro machines, and is expected to be delivered and functioning by the end of summer 2021 and produce a combined hashrate of 22,000 terahash per second (TH/s). The company's CEO, Cale Moodie, said:

"Patience has paid off with the expansion of our Bitcoin mining operations as machines have dropped in price substantially over the last two months. We waited until we hit what we felt was the near-term bottom to make the purchase. We are excited to expand our existing fleet of mining machines with these new S19 Pros and will get them up and running as soon as possible. Our existing partnerships puts Neptune in a great position to quickly and efficiently scale our Bitcoin mining revenues while taking advantage of market pricing fluctuations. We will continue to update shareholders on the progress as new information becomes available and more equipment is procured."

Sam Mowers, Investorideas

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